Executive summary.vii
About the authors. xi
Chapter 1: Why the developments to the competence divide (and not
the digital divide) will make or break the law fi rm business model.1
By Emma Ziercke, research assistant, and Markus Hartung, director, at the
Bucerius Center on the Legal Profession (CLP) at the Bucerius Law School
From information asymmetry to the closing competence divide:
An elusive aspect of the law fi rm paradigm. 1
How legal technology will change the business of law. 3
Is legal technology really changing the law fi rm model?. 5
Information equilibrium, but in a dynamic market?. 9
Chapter 2: AI and fi ve new business models for legal services.11
By Joanna Goodman, writer, editor, and IT columnist for the Law Society
Gazette and the Guardian Media Network
New business model 1: The lawtech start-up. 13
New business model 2: The legal chatbot. 15
New business model 3: Online legal advice. 17
New business model 4: The legal platform as a service. 19
New business model 5: The legal engineer. 21
Chapter 3: What is the next big thing for legal services?. 23
By Chrissie Lightfoot, CEO of Robot Lawyer LISA and CEO of Entrepreneur
Lawyer Limited
Suspicions and reinventions. 24
From AlphaGo to AlphaLaw?. 24
Four aspects of legal services. 26
Time equals money. 27
Contents
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Evolving legal artifi cial intelligence from carthorse to racehorse. 28
Inviolable lawyers. 29
Paper-pusher pushout. 30
Renovating private practice. 31
Chapter 4: The missing 'E' in legal innovation. 33
By John Alber, futurist at the International Legal Technology Association
Innovation talk. 33
Apple innovation. 34
Design Thinking. 36
A new model?. 38
Chapter 5: The evolving legal talent pool. 41
By Debbie Epstein Henry, founder of DEH Consulting, Speaking, Writing
Chapter 6: Rethinking pricing and profi tability. 45
By Michael Roster, co-chair of the Association of Corporate Counsel's Value
Challenge steering committee; previously managing partner of Morrison &
Foerster's Los Angeles offi ce and GC of Stanford University
The historical problem. 45
Use of market data to determine pricing. 46
Matrix budget. 47
The three Es. 48
Multi-disciplinary practices. 49
Chapter 7: A new business model for a sustainable future. 51
By Martyn Caplan, founder and director of Lawyers Inc.
The traditional legal model. 51
Potential threats to the fi nancial stability and future of a legal practice. 52
Creating a different business model. 55
It's good to talk - and we will listen. 57
Chapter 8: Evolving business models in legal services. 59
By Janvi Patel, executive chairwoman and founder of Halebury
Traditional law fi rms. 59
The in-house model. 60
Unbundling legal services. 63
Our evolution - The Halebury model. 64
Next stage of the evolution. 66
Conclusion. 67
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New Directions in Legal Services
Chapter 9: Law fi rm-client collaboration through the managed legal
network. 69
By Richard Tapp, company secretary and director of legal services,
Carillion plc and Fleur Kitchingman, senior vice president of legal and
corporate secretary, Carillion Canada
Introduction. 69
Agenda for change. 70
Our aspirations. 71
Our processes. 71
Reflections on collaboration. 76
Chapter 10: Business model innovation - Implementing and
sustaining change. 77
By Mike Polson, director of Ashurst Advance and co-head of innovation at
Ashurst, and Christie Guimond, R&D strategy manager at Ashurst Advance
Drivers for change. 77
Traditional Big Law vs Evolving Big Law models. 78
The evolving business model in practice - Ashurst Advance. 80
Implementing and sustaining change. 81
Parallels from the past?. 84
